Bitcoin Surpasses $100,000 as Trump Appoints Cryptocurrency Supporter to Lead Financial Regulatory Agency | Financial News
Bitcoin, the largest cryptocurrency in the world, has exceeded a valuation of $100,000 for the first time, fueled by Donald Trump’s latest presidential team nominations.
As of 4:10 AM UK time, the cryptocurrency was priced at $103,280 (£81,160), marking a 7.9% increase over the past 24 hours, according to XE.com.
This milestone represents the peak of a purchasing spree that began on November 5, coinciding with the US election day.
Since that moment, Bitcoin’s value has surged approximately 45% from $69,374 (£54,608).
The rally has also been enhanced by several of the president-elect’s appointments, including Paul Atkins, who was chosen to lead the Securities and Exchange Commission (SEC) on the very day the cryptocurrency hit this new threshold.
A former SEC commissioner under George W. Bush, Mr. Atkins has been a strong advocate for less market regulation and supports cryptocurrency.
Paul Atkins visiting Trump Tower in 2016 Pic: AP
On Truth Social, Mr. Trump remarked about his new appointee: “He believes in the promise of robust, innovative capital markets that respond to investor needs and provide capital to make our economy the best in the world.”
“He also acknowledges that digital assets and other innovations are crucial for making America greater than ever before.”
Initially skeptical of digital currencies, Mr. Trump has vowed to make the US “the crypto capital of the world” and establish a “strategic reserve” of Bitcoin during his election campaign.
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Mr. Trump was the first presidential candidate to accept donations in cryptocurrency, and vice president-elect JD Vance has shown strong support for digital currencies.
In September, Mr. Trump launched World Liberty Financial, a new initiative aimed at trading cryptocurrencies.
Jordan Libowitz, a representative from the watchdog organization Citizens for Responsibility and Ethics in Washington, expressed concern at the time, stating that Mr. Trump’s pro-crypto position was “troubling… while setting up a way to personally profit from it”.
